Darlaston Builders Merchants secures refinancing deal

Darlaston Builders Merchants has finalised a £2m refinancing package with the bank HSBC on seven of its industrial properties in the Black Country, regional business website www.thebusinessdesk.com has reported. HSBC refinanced the company’s existing debt and also provided additional funding to support growth. The deal will enable the company to build on its existing operation, which includes sites in Darlaston, Wednesbury, Birmingham and Coventry.

Darlaston has recently opened a new 2,600sq m bathroom showroom and distribution centre. It has also gained planning permission for a new branch including landscaping at a four-acre site in Walsall.

When it started, Darlaston had just two members of staff – now it employs over 65.

Joinery sales have risen for the 10th successive quarter but increasing labour and material costs are taking their toll, according to the latest Joinery State of Trade Survey released by the British Woodworking Federation (BWF).